Friday, November 12, 2010

The Krugman Dollar

This is bigger than Krugman's Nobel Prize.

Since Krugman is in favor of inflation, Mike Rozeff has decided to name the 1976 dollar, a Krugman.

 Rozeff explains the details of the "honor" here:

In honor of inflationist Paul Krugman, I call the 1976 dollar a KRUGMAN.

In 1976, 125 Krugmans bought 1 Krugerrand (on average). A Krugerrand has 1 troy oz of pure gold.

Today, as of minutes ago, 1,365 Krugmans will buy 1 Krugerrand. The U.S. has followed Krugman’s inflation policy faithfully for 34 years. It has successfully depreciated the Krugman. Where 1 Krugman bought 0.008 Krugerrand, it now buys only 0.0007326 Krugerrands. That’s a decline of 90.8425 percent in the Krugman’s price.

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